binki
New Member
There are a few increases in what you can expense for tax purposes.
A nice summary here: http://www.caltax.com/Hot News and Notes/Pages/NewJobsActbringstaxbenefits.aspx
More detailed here: http://tax.cchgroup.com/legislation/Small-Business-Jobs-Act-7-23-10.pdf
One thing here in California though is we have to pay sales tax on equipment so the final cost is anywhere from 8.75% to 11% more than the purchase price. This, however, can be part of the Section 179 accelerated depreciation.
A nice summary here: http://www.caltax.com/Hot News and Notes/Pages/NewJobsActbringstaxbenefits.aspx
More detailed here: http://tax.cchgroup.com/legislation/Small-Business-Jobs-Act-7-23-10.pdf
One thing here in California though is we have to pay sales tax on equipment so the final cost is anywhere from 8.75% to 11% more than the purchase price. This, however, can be part of the Section 179 accelerated depreciation.
